Over 200 Homes Closed at Brooklyn's Oro Condominium, as Strong Sales Continue, Says Rose Associates

Posted On July 7, 2011

Those who think that apartment closings remain slow haven’t heard about the dramatic activity taking place at Oro, the popular new 40-story condominium residence at 306 Gold Street in downtown Brooklyn.
“Over 200 homes have closed since we started marketing the building 20 months ago, and this strong pace seems very likely to continue this summer,” says Robert A. Scaglion, senior managing director of residential marketing at Rose Associates, Inc., the building’s exclusive marketing and sales agent. “In May alone, we sold 12 homes -- and nine of those have already closed.
“Ease of financing for Oro buyers has certainly contributed to the short window between sales and closings,” adds Mr. Scaglion. “Lenders recognize and value the fact that Oro is a condominium with 65% of the units closed and occupied, and there is a steady and healthy absorption rate. This definitely has helped prospective buyers seeking mortgages.”
The glass and brick Oro, designed by Ismael Levya and developed by 147 Flatbush Avenue Owners, LLC, comprises 303 studio, one-, two- and three-bedroom homes. Available apartments range in price from $360,000 to $945,000.
Oro offers impressive views from floor-to-ceiling glass windows; elegant finishes, including hardwood floors from sustainable forests; sleek kitchens with Euro-style cabinets and stainless steel GE Profile appliances; and modern baths with high-end finishes, such as Durango stone walls and cherry wood vanities. Each residence has individually controlled heating and air conditioning and is wired for high-speed Internet, cable and phone service.
The many luxury amenities at Oro also add to its appeal. The building includes a 24-hour doorman service; a heated, indoor lap pool; a two-story fitness center with a cardio deck, free weights and a basketball and racquetball area; a screening room with theater-style seating; and a sophisticated, mahogany lounge with a wet bar and billiards.
The sales office is open daily from 10 a.m. to 6 p.m.
Additional information can be obtained by calling 718-254-8805 or by visiting www.orocondos.com.

About Rose Associates, Inc.

Based in New York, Rose Associates is a developer, owner and operator of premium residential properties. From planning a new development to managing day-to-day property operations, the Rose 360 Platform offers a full range of services designed to maximize the value of real estate. The firm oversees more than 26,000 units across New York, with approximately $2 billion in projects under development. Rose recently opened the historic skyscraper 70 Pine Street, which the firm is transforming into a luxury rental property with 644 residential units, 132 extend-stay apartments and a destination restaurant/lounge occupying the top four floors.

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